DXY Neutral: At one Fibo extension levelI didn't have the time to do the bigger analysis. But on the short term, I think DXY may have hit a resistance. Will follow up later .
DXY trade ideas
$DXY my last thread on the dixie was a bit stretched so thought i;d start a new one.
at the 200 ema now
what am hoping for is that it closed below this by weekly close for now deviate above it and take some short stops /liquidity
above 102 or thick blue line
RIP risk on assets
DXYDXY Long Term possible Bias, after price will sweep BSL in form of PMH and mitigate M FVG there is posibilities for reversal
DXY and BTC/USDCurrently, we are observing a divergence between the U.S. Dollar Index (DXY) and Bitcoin (BTC/USD). This divergence is notable because the DXY is showing signs of strength while Bitcoin appears to be under pressure. Historically, there has been an inverse correlation between the U.S. Dollar and Bitcoin, with strength in the dollar often translating to weakness in Bitcoin and other risk assets.
DXY: Bottoming?I've been watching this supply zone for a few weeks now, and it seems like DXY is bottoming out here. Political unrest in the Middle East and interest rate cuts seems to be the catalyst for this move. Markets may go risk-off in the short term. Cash is going to be king for a bit.
DXY: Local Correction Ahead! Sell!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 101.315
Wish you good luck in trading to you all!
DXY Long term Bullish 2024/10/02DXY might retrace to the down side soon and in the long run go Bullish - Price in Weekly and Daily Demand zones. There for anticipating Weekly HL point.
Price can drop more however a low point of some sort is anticipated.
BULLISH DXY.. DXY boutta reach for these highs..
its only right to sell EURUSD, GBPUSD,
buy USD CAD,
Levels discussed 2nd October2nd October
DXY: Consolidating, could retrace to 101.10 (23.6%), looking to break above 101.40 and trade up to 101.80 (stay above 100.90 to maintain bullish)
NZDUSD: Sell 0.6265 SL 20 TP 55
AUDUSD: Sell 0.6860 SL 20 TP 40 (forming H&S pattern)
GBPUSD: Sell 1.3240 SL 30 TP 80
EURUSD: Sell 1.1045 SL 20 TP 40
USDJPY: Could continue ranging, Buy 144.80 SL 40 TP 120
USDCHF: Sell 0.8470 SL 15 TP 55
USDCAD: Buy 1.3475 SL 20 TP 60
Gold: Could trade up to 2665, could be held briefly along bearish trendline.
DeGRAM | DXY a pullback from the resistance levelDXY is moving above the descending channel between the trend lines.
The price reached the resistance level, after which it instantly reacted with a decline. This level has already acted as an important resistance and a pullback point last time.
The chart is moving from the upper trend line to the dynamic support.
We expect the pullback to continue after retesting the resistance level.
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DeGRAM | DXY disruption of the descending structureDXY is moving in a descending channel above the trend lines.
Having bounced off the support, the price broke the dynamic resistance and approached the upper boundary of the channel.
The chart has broken the descending structure and is now above the resistance level.
We expect the rebound to continue after consolidation above the upper boundary of the channel.
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Uptrend It is expected that the upward trend will continue according to the specified paths. As long as the price fluctuates above the green support range, the continuation of the upward trend will be possible. Otherwise, the corrective and fluctuating process will take place
DXY (Dollar Index) Technical Analysis and Day Trade Idea👀 👉 The DXY (Dollar Index) recently shifted into a bullish structure on the 4H timeframe, with price now approaching a key resistance level. This could present a potential short day trade opportunity. In this video, we analyse the DXY in detail, reviewing the trend, market structure, and price action, while exploring a possible trade setup. Disclaimer: Forex trading carries significant risk, and market conditions can change rapidly. The information provided is for educational purposes only and does not constitute financial advice. 📉✅
Will the escalation of the Middle East tension boost the dollar Macro theme:
- The dollar strengthened after Fed Chair Jerome Powell struck a more hawkish tone last week, scaling back traders' expectations of another 0.50% rate cut at the next meeting.
- The safe-haven demand following the possibility of Middle East escalation boosted the dollar.
- The US Aug JOLTS data showed 329,000 more jobs, indicating a more robust labor market than anticipated.
Technical theme:
- From the 4-hour chart, DXY broke its Wedge pattern and closed above both EMAs with the golden cross. This indicates a potential recovery from its previous sideways-down trend.
- If DXY breaks above 101.33, the index may strengthen to retest 101.80 resistance confluences with its descending trendline.
- On the contrary, DXY may retest 100.90-101.00 before upward movement.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
PROJECTION FOR DXYPrice looking consolidate before dropping. Price has refused to close above the previously created high which means that price might continue the actual trend which is down movement. This means bullish for foreign currency pair
DXY Major Support TestWe have a pretty interesting situation with fed fund futures moving all over the place. Lots of speculation about soft vs hard landing, speed of rate cuts, etc. I'm really not sure what I even think will happen to things like DXY and BTC in the near future, but I do know that TA says DXY should have support here and if it doesn't hold it's likely going to lead to more continuation down. This 100 area has been strong support since Feb 2023. This is the fifth or sixth test of this area in the last 18 months. Clearly an important spot. Either it's going to break 100 and accelerate to the downside or it's going to hold the current range.
This is both horizontal support and the first retest of the big downtrend breakout from the high in 2022 we got back in April. That also happened to be during a time of war escalation fears from Iran's strikes. Seems likely we will see at least some sort of bounce, but this could be the time it breaks and it would probably be a big time break. DXY has been in this range from ~100-105 for over a year. It's gonna move quick if it does break down, I'm pretty sure of that much at least.
[DXY] Entering the boxTVC:DXY is releasing the downward pressure & has now entering the box once again. My hunch is the price will go back & forth within the box, but if break to upside, then there's another resistance to overcome there.
MACD is still negative.
Still looking bearish, but no trend & seems tend to volatile in this box. Better stay out until there's more trend clarification.
Dollar Index (DXY) Looking for a Flat Elliott Wave CorrectionShort Term Elliott Wave View in Dollar Index (DXY) suggests that decline to 100.2 ended wave 1. Rally in wave 2 is in progress as an expanded flat Elliott Wave structure. Up from wave 1, wave (a) ended at 101.14 and pullback in wave (b) ended at 100.91. Wave (c) higher ended at 101.47 which completed wave ((a)) in higher degree. Wave ((b)) dips takes the form of a double three Elliott Wave structure. Down from wave ((a)), wave (w) ended at 100.4 and wave (x) ended at 101.23. Wave (y) lower ended at 100.15 which completed wave ((b)) in higher degree.
The Index has turned higher in wave ((c)). Up from wave ((b)), wave (i) ended at 100.54, and pullback in wave (ii) ended at 100.18. Wave (iii) higher ended at 101.39 and pullback in wave (iv) ended at 101.15. Expect the Index to extend higher 1 more leg in wave (v) to finish wave ((v)) of 2 in higher degree. Afterwards, expect the Index to resume lower. Possible target for wave (v) of ((v)) of 2 is 100% – 161.8% Fibonacci extension of wave ((a)). This comes at 101.4 – 102.1 area.
"Impact of Increased Supply on DXY Ahead of NFP Release.....The DXY remains within its bearish range as October begins, aiming to mitigate previous supply levels. The market is seeing increased supply pressure, which could lead to further declines as the NFP (Non-Farm Payroll) release approaches, adding to market volatility and potential shifts in direction.
Is DXY Finally Bullish? 101.000 Broke with BULLISH Momentum..DXY is showing signs of pulling back after reaching the top of its daily ATR range, indicating potential exhaustion in the current bullish momentum. I’m anticipating a short-term retracement as the index begins to pull away from these elevated levels.
My focus is on a potential retest of the 100.800 level, which previously acted as a key support from which the market rallied to new highs. This area will be critical in determining if the DXY can find support again or if it will continue to slide further. Stay cautious of volatility and how upcoming U.S. economic data may influence this move.
DXY: Market Is Looking Up! Buy!
Welcome to our daily DXY prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 101.512
Wish you good luck in trading to you all!
** Dollar index enters bull market - Life cross prints **On the above 2 day chart price action has entered a bull market. We define this as:
1) The 2-day 50-day SMA (blue line) crossing up the 2-day 200-day SMA
AND
2) Price action above the 2-day 200-day SMA.
Both of those conditions have now confirmed. The Dollar index is in a bull market.
The previous life cross (idea below) printed in November 2021. The dollar index rallied 20% after the cross, I’m sure you noticed.
Is this another 20% bull market like 2021?
Unfortunately, it is looking that way. However much higher. Not only that but there is evidence to support a faster rate of change in the uptrend.
At the moment the dollar index remains in a trading range that began in November 2022. Markets are likely to remain unaffected until the index exits that range. A bull flag has printed since the trend reversal and life cross.
The bull flag extension would take price action outside the trading range. When this happens AND past resistance confirms as support… be in cash. No stocks no crypto no metals no animal spirits.
This bull market has a 1st target area with the index rallying to 130. Yes you read that correctly. A detailed explanation of why and when this is likely to happen is written elsewhere.
Ww
November 2021 Life cross
